A tax break that expired in ‘08 looks likely to be renewed next year — and if it does, it can boost the bottom lines of even the smallest companies. As part of the Obama administration’s stimulus package, bonus depreciation is expected by most analysts to come back in ‘09.

Assuming no changes are made, that’ll give your company a chance to write off 50% of the cost of new assets that it buys and puts into service in 2009. (The other half can be written off under the standard rules for depreciation.)

Making the change in your Accounting procedures could be a little bit of extra work — but it has the potential to save your company a ton of cash.

Tags: Accounting, Cost cutting, Tax compliance, Tax filing